Question 1

What is a “High Deductible Health Plan” (HDHP)?

admin · Accepted Answer

You must be enrolled in an HSA-eligible high deductible health plan (HDHP) if you want to legally open and contribute to an HSA. An HDHP is a health insurance plan that generally doesn’t pay for first dollar health care expenses, other than preventive services. Your HSA is available to help you pay for qualified medical expenses, as defined by the IRS, with pre-tax dollars.

In order to qualify to open and contribute to an HSA, your HDHP must have a minimum deductible and maximum out-of-pocket limits as set annually by the IRS.

Question 2

What is a “High Deductible Health Plan” (HDHP)?

admin · Accepted Answer

You must be enrolled in an HSA-eligible high deductible health plan (HDHP) if you want to legally open and contribute to an HSA. An HDHP is a health insurance plan that generally doesn’t pay for first dollar health care expenses, other than preventive services. Your HSA is available to help you pay for qualified medical expenses, as defined by the IRS, with pre-tax dollars.

In order to qualify to open and contribute to an HSA, your HDHP must have a minimum deductible and maximum out-of-pocket limits as set annually by the IRS.